[2019-01-05]What is Facebook’s Vision for Blockchain Technology?

[Vladdirescu87]

In May 2018, Facebook created a special brand-new research team to develop possibilities of blockchain technology. If the fintech is to be taken seriously, the tech giant will be able to solve issues with data breaches and enhance transparency and user’s privacy.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/what-is-facebooks-vision-for-blockchain-technology/

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[CryptoBry]

Facebook can be a big and major force in the world of blockchain and cryptocurrency soon. With its immense power to influence and eager users all over the world, there are so many possibilities that Facebook can look into in applying the blockchain technology in many aspects of its operation in current state and into many things in the future. In fact, with this development, I think Facebook can be holding many keys towards massive adoption of the blockchain technology. This is just one of the many example of how in the end big corporations and their captured market can benefit a lot with the blockchain. Now, am hoping that this can never affect the movement towards decentralization.

[Theb]

Their usage of Blockchain Technology might not be completely related to cryptocurrencies/payments at all. First off their payment system (VISA debit/credit cards, Paypal) works in all parts the world already. Secondly I doubt that a company like Facebook who already is a stock company in the NYSE can raise their own ICO, they might be flagged by the SEC by that. I have a feeling that their version of Blockchain will be about FB's security against people posting scams, fake news, and other shady things and also it will be their own way to gather evidence/proof that they themselves are not doing some shady shit when the US Government comes knocking at their doors again.

[hatshepsut93]

If the fintech is to be taken seriously, the tech giant will be able to solve issues with data breaches and enhance transparency and user’s privacy.

That's a good one 

People still don't understand that for Facebook they are the product, and that Facebook will keep selling their data until it dies. If somehow they'll manage to make blockchain work, it won't be an improvement for users, it would be the opposite, because Facebook will be able to harvest and organize user data more efficiently.